13,071 Shares in Medpace Holdings, Inc. (NASDAQ:MEDP) Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. acquired a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,071 shares of the company’s stock, valued at approximately $5,383,000.

Other large investors have also recently modified their holdings of the company. Rise Advisors LLC purchased a new position in shares of Medpace in the first quarter worth about $27,000. Mather Group LLC. purchased a new position in shares of Medpace in the first quarter worth about $28,000. Fidelis Capital Partners LLC purchased a new position in shares of Medpace in the first quarter worth about $31,000. J.Safra Asset Management Corp increased its stake in shares of Medpace by 87.0% in the first quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock worth $41,000 after purchasing an additional 47 shares in the last quarter. Finally, DT Investment Partners LLC bought a new position in shares of Medpace in the second quarter valued at approximately $41,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Analysts Set New Price Targets

MEDP has been the subject of a number of analyst reports. Guggenheim cut their price objective on shares of Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. TD Cowen cut their price objective on shares of Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. William Blair restated an “outperform” rating on shares of Medpace in a research report on Wednesday, September 11th. Robert W. Baird cut their price objective on shares of Medpace from $469.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Finally, StockNews.com upgraded shares of Medpace from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $423.00.

Medpace Price Performance

Shares of Medpace stock opened at $354.65 on Wednesday. Medpace Holdings, Inc. has a 1 year low of $227.21 and a 1 year high of $459.77. The firm has a market cap of $10.99 billion, a PE ratio of 36.15, a PEG ratio of 1.74 and a beta of 1.36. The company has a 50 day simple moving average of $382.17 and a two-hundred day simple moving average of $392.66.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.21. The business had revenue of $528.10 million during the quarter, compared to analyst estimates of $528.41 million. Medpace had a net margin of 16.74% and a return on equity of 55.14%. Medpace’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.93 earnings per share. As a group, research analysts anticipate that Medpace Holdings, Inc. will post 11.66 earnings per share for the current year.

Medpace Company Profile

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.